81 entries from November 2011

November 25, 2011

This cartoon by Andy Davey from The Sun is inspired by the news that civil servants from across Whitehall are being lined up to act as border staff at UK ports and airports during next week's public sector strikes. Full story >>

THE CARTOONAn American couple have just arrived at a British airport. The passport control is being manned by a civil servant due to the strike action by immigration officials. The American tells his wife, "See honey - they all dress like butlers - even border guards."

EXPLANATIONTraditionally, the stereotypical view of the British held by Americans is that they all wear dark suits and bowler hats, just like a butler (see picture).

VOCABULARY A butler is the most important male servant in a wealthy house. See here for a great butler cartoon.

The leaders of the euro zone's three largest economies agreed on Thursday to pursue closer political and economic integration as the European Central Bank considered measures to shore up the region's banks and keep the protracted debt crisis from freezing new lending. Full story >>

VOCABULARY Ties are the connections you have with people or a place. • The Iranian parliament overwhelmingly approved a proposal calling for a reduction in the level of ties with Britain on Wednesday.

November 24, 2011

Today is Thanksgiving Day in the United States, so lots of Americans will be tucking into roast turkey. But not if animal rights organization PETA has anything to do with it. They've launched a controversial poster campaign aimed at children which asks, 'If you wouldn't eat your dog, why eat a turkey?'

COMMENTPETA is well-known for its provocative shock ads but targeting children seems a bit unfair, especially on a holiday like Thanksgiving. Vegans might not agree, I suppose. What do you think?

Germany had one of the worst bond sales since the launch of the euro, with the Bundesbank forced to buy almost half the bonds, and analysts wonder if this pressure on Berlin might change perceptions about how to solve the debt crisis, as the European Commission discussed the possibility of introducing eurobonds. Joanna Partridge reports.

TRANSCRIPT REPORTER: Germany's strong economy has held up relatively well despite the debt crisis swirling around Europe. But analysts said the first signs it was beginning to threaten Berlin came on Wednesday - when Germany had one of the worst bond sales since the launch of the euro. It still costs Germany significantly less to sell its debt than all its euro zone neighbours, but the Bundesbank was forced to buy large amounts of the bonds to ensure the auction didn't fail. This, on a day where the European Commission discussed the introduction of eurobonds - an idea German Chancellor Angela Merkel once again rejected. ANGELA MERKEL: "I find it extraordinarily inappropriate that the European Commission is focussing today on eurobonds, different kinds of them, giving the impression that the debt burden can be shared and that we can get rid of flaws in the structure of the European currency. That's exactly what won't work." REPORTER: The European Commission has put together a study with suggestions - but no recommendations - about how to end the crisis and calm the markets. It was presented by European Commission President Jose Manuel Barroso and Commissioner for Economic and Monetary Affairs Olli Rehn. The proposals include tighter control of euro zone countries' budgets and closer economic monitoring. It could also - eventually - lead to euro zone members jointly issuing what they call "stability bonds". JOSE MANUEL BARROSO: "If implented in the right way, the joint issuance of debt in the euro area could bring tremendous benefits. It could lead to greater financial integration and the creation of a much larger and more liquid bond market, comparable to debt which exists for the United States Treasuries." REPORTER: Germany's firmly opposed to the idea, as it could end up carrying most of the costs and it fears it'd take the pressure off countries to get their finances under control. But one Frankfurt trader think it's only a matter of time. DIRK MUELLER: "It's not that they're the solution, but currently, there is no other solution. Eurobonds only make sense if there is a common budget management in which case a common account makes sense. Everything else leads the community as a whole into disaster but since it appears there is no other solution, this solution will likely be pulled out of the hat as a last resort."REPORTER: Many say the crisis is threatening the euro zone's core because it has gone on so long, so some kind of last resort solution is long overdue. Joanna Partridge, Reuters.

EXPLANATIONThe captain tells tells the passengers, "The company is experiencing turbulence—tighten your belts ..." Usually, this sort of announcement would refer to the flying conditions, but here it also refers to the financial situation of the company.

IDIOMIf you have to tighten your belt, you have to spend less money and manage without things because you have less money than you used to have.

A German government debt auction drew some of the weakest demand since the introduction of the euro, signaling diminishing investor appetite for even the safest euro-zone assets amid Europe's worsening debt crisis. Full story >>

VOCABULARYAn auction is a public sale where goods are sold to the person who offers the highest price. The naval jacket of James Bond creator Ian Fleming was sold at auction yesterday for almost double its estimated price.

November 23, 2011

Egypt's army ruler announces a handover of power to an elected civilian president as of mid-2012. The promise fails to satisfy protesters in Tahrir Square. Katharine Jackson reports.

TRANSCRIPTREPORTER: Protesters hurl molotov cocktails across a barricade in Cairo. Police fire tear gas back. This - the fourth night of clashes near Tahrir Square - comes after a televised announcement from Egypt's army chief. General Mohamed Hussein Tantawi says the ruling military council will give up power if the people vote for it in a referendum. GENERAL MOHAMED HUSSEIN TANTAWI: "We are ready to immediately hand over responsibilities and return to its main responsibilities of protecting the nation, if the people wish, and could be carried out through a national referendum, if the situation would call for one." REPORTER: The military rulers also promise a presidential election by mid-2012 and earlier accepted the resignation of the prime minister's cabinet. But the news does not placate protesters in Cairo's Tahrir Square, where thousands have massed in a surge of anger reminiscent of the movement that toppled former president Hosni Mubarak. PROTESTER: "We will not leave, we are here until we see changes, but now nothing has changed, we will not be fooled. The previous president attempted to deceive the people but he failed and finally responded to our demands." REPORTER: The U.S. State Department called the general's statements "important reassurances." But spokeswoman Victoria Nuland tells reporters the use of excessive force by Egyptian police must end. US STATE DEPARTMENT SPOKESWOMAN VICTORIA NULAND: "We condemn the excessive force used by the police. And we strongly urge the Egyptian government to exercise maximum restraint to discipline its forces and to protect the universal right of all Egyptians to peacefully express themselves." REPORTER: The recent violence has killed at least 36 people and wounded more than 12-hundred. Katharine Jackson, Reuters.

BACKGROUNDEgypt's capital and several other cities have been convulsed by five days of protests demanding that the Supreme Council of the Armed Forces, which took control when Mubarak was ousted in February, hand over power to civilians. They want Tantawi out. "The people want to topple the marshal," protesters, most of them less than half the commander's age, have chanted. Graffiti in Tahrir and around the capital reads: "Tantawi is Mubarak." [Source: Reuters]

COMMENTARYThe cartoonist seems to be saying that Tantawi is the new Mubarak because he is clinging to power and is prepared to use deadly force to put down demonstrations.

November 22, 2011

One of reasons for the eurozone debt crisis is the low level of growth in many member countries. But what exactly do we mean by 'growth'? When people talk about "economic growth" they're usually talking about the year-on-year percentage increase in Gross Domestic Product, better known as GDP. But what is GDP? How do you measure the whole economy in one number? To find out the answer, NPR Planet Money's Adam Davidson goes to the grocery store with economist Simon Johnson.

November 21, 2011

TRANSCRIPTREPORTER: Spanish voters made their voices heard with a crushing election victory for the People's Party. Mariano Rajoy is Spain's newly elected prime minister, leading his centre-right party to an absolute parliamentary majority. His party took 186 seats in the 350-seat lower house official results showed, with 99.95 percent of the vote counted. The Socialists, led by Alfredo Perez Rubalcaba, slumped to 111 seats from 169, their worst showing in 30 years. Rajoy is expected to push through drastic measures to stop Spain being pulled deeper into a debt crisis which threatens the whole euro zone. Rajoy was clear difficult times lay ahead. MARIANO RAJOY: "I ask you to continue helping me, I ask you to continue to support me. We will face difficult moments but we have desire, courage, will, strength and support to form a government that will represent every Spaniard." REPORTER: Mother of two, Maria Martin welcomed the change of leadership. MARIA MARTIN: "Those were years of economic and political disaster. The truth is, we need a change. And I went on the street to vindicate this." REPORTER: Under the Socalist government, Spain went from boom to bust and has the EU's highest jobless rate with five million people out of work. Spanish voters were the fifth EU nation to throw out their leaders, following Greece, Portugal, Ireland and Italy. Marie-Claire Fennessy, Reuters.

This cartoon by Paul Thomas from The Daily Express is inspired by the comments made by the Duke of Edinburgh (aka Prince Philip) about wind farms. In a withering assault on the onshore wind turbine industry, the Duke said the farms were “a disgrace”. He also criticised the industry’s reliance on subsidies from electricity customers, claimed wind farms would “never work” and accused people who support them of believing in a “fairy tale”. Read more >>

The cartoon shows the Duke and the Queen walking past a wind farm. The Queen comments, 'Must you be so beastly about these wind farms?' The Duke replies, 'It'll blow over.'

EXPLANATIONThe joke comes from the play on the expression 'blow over'. Of course, the wind blows over the land, but if something such as trouble or an argument blows over, it ends without any serious consequences.

LESSON IDEAGet students to debate this issue: "We need more wind farms to reduce our reliance on fossil fuels." See links below for arguments for and against.

'Violence returns to Egypt', says the Guardian, following another day of clashes between troops and protesters in Cairo. Full story >>

VOCABULARY Protesters are people who show publicly that they object to something. • Thousands of student protesters took to the streets in Santiago on Friday in the second of a two-day national strike for education reform.

November 20, 2011

Merkel is portrayed as a dominatrix dressed from head to toe in black leather. She has been whipping two men chained to the wall of her dungeon. Cameron tells her, 'Forget discipline, it's time for this', 'this' being an ECB big bazooka loaded with money.

EXPLANATIONThe men represent Greece and Italy (you can tell by their underpants), and the whipping is a metaphor for Germany's insistence on the implementation of drastic austerity measures and financial discipline in return for bailout money. David Cameron, however, believes it is vital that Europe's leaders get ahead of the markets by announcing a comprehensive plan, comparing it to the "bazooka" approach once advocated by Hank Paulson, former US Treasury secretary. Cameron favours using the unlimited liquidity that only the ECB (European Central Bank) can provide by dint of its power to print money. The ECB could credibly stand ready to buy debt of a country like Italy. As such, it would be treating a sovereign almost as it would a bank suffering a run. The danger is that this will stoke inflation. Germany, in particular, has a deep aversion to anything that looks like printing money, an orthodoxy forged in the experience of the Weimar Republic’s hyperinflation. Hence, Cameron's difficulty in convincing Merkel to go down this road [based on articles cited below].

VOCABULARYThere's a play on the word 'discipline'. Discipline is the practice of making people obey rules or standards of behaviour, and punishing them when they do not. This can be seen as a reference to Germany's insistence on austerity measures and strict financial discipline as a means of tackling the debt crisis. But in the context of the cartoon, the use of the term is also clearly meant to evoke the sexual practices of bondage and discipline.

The Duke of Edinburgh is quoted in the Sunday Telegraph making a withering attack on wind farms. Full story >>

VOCABULARYIf something is useless, it does not achieve anything helpful or good. • Optical drives are useless for professionals who know what they are doing, but for computer novices optical drives are still a necessity.